Corporate Governance

Tesco arrived in the U.S. in 2007 amid great fanfare with its first Fresh & Easy stores. Now, just five years later, the 30 year Tesco veteran in charge of the 200 unit operation is gone and the company is looking to unload the stores.

Dick’s Sporting goods will pay $2 special dividend before year end in a move to help investors avoid what are presumed to be higher dividend tax rates in 2013 and beyond.

The dividend payment will be made from cash on hand, according to the company.

San Francisco -- The Gymboree Corp. reported Wednesday that net income for the quarter ended Oct. 27 fell 22.6% to $46.9 million from $60.6 million in the year-ago period.

Sales edged up 2.8% to $311.5 million, but same-store sales dipped 4% in the quarter.

During fiscal 2012, the company said it maintains its plans to open approximately 124 new stores, including 98 Crazy 8 stores.

West Chester, Pa. -- QVC announced that its wholly owned subsidiary, California Voices, has signed a definitive agreement to acquire Oodle, a social commerce leader that runs the Oodle Marketplace application on Facebook. The acquisition is expected to close by Dec. 31.

Cleveland -- Sherwin-Williams Paint Stores Group announced Wednesday it has opened its 3,500th retail location in total and its 70th in 2012.

The newest store is 4,000 sq. ft. and located in Rancho Santa Margarita (Orange County), Calif.

Redlands, Calif. -- Esri announced Wednesday that the Great Atlantic and Pacific Tea Co. has licensed Esri GIS technology and data to provide localized shopping trends data toward supporting the grocer’s commitment to growing its market presence across the Northeast.

Los Angeles -- CBRE Group announced that Robert E. Sulentic assumed the position of president and CEO, effective Dec. 1.
   
Sulentic succeeds Brett White, who, as previously announced, retired on Nov. 30.

Sulentic, most recently the company’s president, also joined CBRE’s board of directors, which has expanded to 11 members. White also remains a member of the board.
 

Fort Worth, Texas -- Trademark Property Group announced that together with Coventry Real Estate Advisors, Southern Land Co. and PCCP, it has recapitalized the Watters Creek at Montgomery Farm mixed-use project near Dallas in a joint-venture arrangement.
 
The Joint Venture acquired the note on the property from a multi-bank syndicate led by PNC Bank. PCCP provided the capital for the transaction from its opportunistic fund, PCCP Equity VI, L.P.

Boston -- DJM Realty announced that Josh Podell has joined the company as a specialty retail and outlet consultant.

Podell, who will continue to operate his own real estate consultancy Podell Real Estate Advisors, counts among his retail experience a lengthy stint as VP real estate for Jones Retail Corp., a division of Jones Apparel Group.

Naples, Fla. -- New York City-based Brixmor Property Group has announced the Dec. 6 grand re-opening of its redevelopment of Naples Plaza, one of the oldest shopping centers in Naples, Fla.